With countless tactics that e-commerce businesses use to pump up sales, pre-orders are the most overlooked strategy of recent times. They are a highly effective way to generate quick buzz to raise demand for new products. By definition, it is the sale of products not immediately made available will be in coming times. The product may be in the development phase or already being manufactured and packaged for sale but not yet available in stores.
The retailer simply holds back to create a sense of excitement and scarcity of the product. Let’s call it a tried-and-true tactic, used by brands in various verticals, automotive (Tesla), electronics (Apple and Samsung), and gaming (everyone from Nintendo to Sega) and many more.
Steps to take advantage of pre-orders to boost sales:
1. Brand It a Tentpole Event
Companies use the pre-order marketing strategies to help support the release of a major product. You need to understand that creating an anticipation and desire for new products among followers, influencers and press helps to compel customers for pre-orders immediately after making them available online.
2. Market Your Products way ahead
The most critical phase for a successful pre-order marketing campaign isn’t your product availability on presale and not even the launch day .it are the months prior to your pre-order period that can make or break your launch campaign. Understand that existing customers need to know something exciting is happening and should be constantly updated about the process pertaining to manufacturing details, shipping times, behind-the-scenes looks, etc. Consistent sneak peaks and email marketing plays critical to building suspense in customers.
3. Create Tempting Bundles
Pre-order marketing strategies provide customers with the feel of joining an exclusive club achieved through bonus to regular buyers by providing premium product upgrade, free shipping or allowing VIP customers to place their pre-order ahead.
4. Prepare Online Store for the upcoming Traffic Surge
Craving for a marketing legwork ahead for your presale campaign? Then be sure for a big spike in site traffic on the first day and make sure pre-orders are available. If properly done, your strategy should pay soon after the launch day because you’ve spent time and effort to prime pump and create demand leading to the big day. The key takeaway is to make your pre-order strategy successful, to be prepared to put in months of effort not weeks.
Many e-commerce companies launch a product with “overnight success,” not evidently shown is the long tail of strategizing of pre-order potential.